Role of Crude Oil in Determining the Price of Corn in the United States: A Non-parametric Approach

被引：0
作者：
Mitra, Subrata K. [1 ]
Pal, Debdatta [2 ]
机构：
[1] Inst Management Technol, Nagpur, India
[2] Indian Inst Management Lucknow, Lucknow, India
来源：
JOURNAL OF QUANTITATIVE ECONOMICS | 2024年 / 22卷 / 02期
关键词：
Nonlinear price transmission; Crude oil price; Agricultural prices; MARS; AGRICULTURAL COMMODITY PRICES; PRECIOUS-METAL; ENERGY PRICES; WORLD OIL; FOOD; ETHANOL; DYNAMICS; FUTURES; MARKETS; RISK;
D O I：
10.1007/s40953-024-00382-1
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
This paper explores the role of crude oil in determining corn prices for data on the weekly front future prices in the United States. With 38% of corn production allocated toward fuel ethanol, a possible effect of crude oil price variation on corn price fluctuations is theoretically indicated. To test this theory, two complementary approaches-a parametric multiple regression and a non-parametric multivariate adaptive regression splines approach are employed. Along with indicating a weak relationship between corn and crude oil prices, the results suggest that corn price responds nonlinearly to the changes in soybean and wheat prices.
引用
收藏
页码：395 / 420
页数：26
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